Pinnacle Bankshares Corporation Declares Cash Dividend

ALTAVISTA, Va., Nov. 14, 2016 (GLOBE NEWSWIRE) -- Pinnacle Bankshares Corporation (the "Company") (OTCQX:PPBN), the one-bank holding company for First National Bank (the "Bank"), announced today that its Board of Directors declared a cash dividend of $0.10 per share on November 8, 2016, payable December 2, 2016 to shareholders of record as of November 18, 2016. 

The cash dividend is equal to the $0.10 per share paid to shareholders last quarter and marks the seventeenth consecutive quarter that a dividend has been declared.  Pinnacle previously released its third quarter 2016 earnings on October 25, 2016.

"Cash dividends paid this year combined with the year-to-date increase in the trading price of Pinnacle's stock have provided an attractive total return on investment for our shareholders thus far in 2016," stated Aubrey H. Hall, III, President and Chief Executive Officer for both the Company and the Bank.

Pinnacle Bankshares Corporation is a locally managed community banking organization based in Central Virginia.  The one-bank holding company of First National Bank serves an area consisting primarily of all or portions of the Counties of Campbell, Pittsylvania, Bedford, Amherst and the City of Lynchburg.  The Company has a total of eight branches with two located in the Town of Altavista, where the Bank was founded.  Other branch locations include Village Highway in Rustburg, Wards Road near the Lynchburg Regional Airport, Timberlake Road in Campbell County, South Main Street in the Town of Amherst, Old Forest Road in the City of Lynchburg and Forest Road in Bedford County.  First National Bank is in its 108th year of operation.